An improved macroeconomic backdrop continues to support hard currency emerging market (EM) debt, which has outperformed local currency EM debt this year. However, is there now room for EM currencies to take off?
Weakness in the global economy has been almost entirely driven by the manufacturing sector. With recent data showing tentative signs of a recovery, what could be the implications for bond markets?
Does the recent sell-off for risk assets mean the end of the cycle is nigh, or is there value to be found for investors willing to buck the trend?
Dovish central banks, strong fundamentals and an improved outlook for China suggest that all stars are aligned for emerging markets. How long can the year-to-date rally continue?